Department of Estate Management

This course introduces the students to the preparation of reports for various purposes in the practice of Estate Management and Valuation. Emphasis will be on the various headings and subheading essential in different types of reports. Exercises will cover inspection and valuation reports on real life properties for mortgage, sales, purchase, insurance etc. In addition, other reports such as feasibility report, schedule of dilapidation report, routine property management report etc. will be given prominent attention. Students will be required to submit at least six types of reports for grading.

This course is designed primarily for students in Estate Management Department. However, it also meets the need of students in other fields. The focus of this course is to impart useful skills on the students in order to enhance their professional competence in handling land administraion related matters in Nigeria and the procedures involved in land administration. Topics to be covered include land tenure system in Nigeria, methods of disposal of governmet land, condition of grant of Certificate of Occuancy (C of O), land information management, land administration problems and practice, structures and functions of various government departments and agencies associated with land administration in Nigeria, subsecence trasactions in formal and informal land market, land aquisition, allocation and revocation , compulsory land acquisition and compensation procedures, land registry and Term paper.

This course is a 400 level property valuation course designed primarily for students in the Department of Estate Management. The focus of the course is to provide the students with the ability to deal with practical valuation problems in relation to plants and machines. This will enable them face the challenges in the work environment after completion of their program in school. Topics to be covered include value concept, element of value, types of value, concept of property, its classification for valuation purpose, manufacturing process and its types, identification of plant and equipment, what constitute plant and machinery equipment, items exempted from plant and machinery valuation, purposes of plant and machinery valuation methods of valuing plant and machines, depreciation and method of computing depreciation in plant and machine, company’s account and asset valuation.

The course covers topics like Management theory, Management evolution principles of management, forecasting, planning, organisation, coordination, control, motivation communication. Aims and policies of landed property management. The proprietary unit as an area of decision. The proprietary land structure in Nigeria. The leasehold system. Estate Planning and supervision.

This course intends to provide an introduction to property (real estate) development and finance principles and applications. From initial consideration to final marketing, this course provides a complete overview of the essential steps in the property development process. It also familiarises students with simple cash flow in real estate development process using simulations and scenarios. This course covers 5 main areas of study: 1. The property development process • Overview of the development process • Phases in the property development process • Development value • Stakeholders in the development process and • The economic content for property development 2. Stages in the real estate development • Roles of allied professionals • Roles of statutory government institutions • Roles of financial and community members 3. Feasibility and market study • Cash flow analysis • Discounted cash flow method • Sensitivity analysis • Spreadsheets 4. Means by which investment in properties may be achieved. • Property Acquisition Option • Mortgage Investment Option • Property Development Option • Acquisition of Shares in Property Companies (securitisation and unitisation) 5. Market research, marketing and disposal

This course aims at giving the students an opportunity to develop their research techniques and writing skill. The course incorporates the use of elementary statistical analysis in problem solving.

This course is designed primarily for students in Estate Management Department to introduce the students to basic computer applications that are relivant to estate management practice. However, it also meets the need of students in other fields. The focus of this course is to impart useful skills on the students in order to enhance their professional competence in handling computer hardwares and softwares. Topics to be covered include introduction to computer hardware and software; practical exercises designed towards students understanding of computer application to estate management. Simple softwares that are of direct application to investment analysis, valuation and property management. Inventory management, computerized agecy and property management system. The estate surveyor and e-marketing.

Introduction to Agency. Legal Aspect of Agency. Creation of Agency. Positions of Principal and Agent, Duties, Rights and Liabilities. Termination of Agency. Emergence of Estate Agency. Types of Agency. Functions, Services, Agency Information Source. Control of Estate Agency Practice. Methods of Sale, Promotion, Selling, Marketing and its Criteria. Market Segmentation Market Research and Market Planning. Real Estate Market Analysis. Rules of Thumb in Real Estate Practice.

This course is an explanatory, designed primarily for students in quantity surveying discipline. However, it also meets the need of students in other environmental study fields, as a course that provides training on cost components and forecasting. The focus of the course is to impart useful skills on the students in order to enhance their cost awareness with respect to deployment of construction resources at higher levels. Topics to be covered include nature of Nigerian construction market, effects of construction on national economy, factors affecting supply and demand of landed property, choice and acquisition of sites and its effects on development, values and investment, valuation methods and construction of valuation tables, introduction to cost control and its procedure, cost implication of design variables and construction methods, developer’s budget and preliminary estimates and establishment of cost target.